Largest option buying in equities so far

David Russell (david.russell@optionmonster.com)

Nearing the halfway mark in today's session, here are the individual equity names with the most call and put buying on optionMONSTER's ActionTracker data system.

Hewlett-Packard (HPQ): Almost 24,500 March 18 calls were bought, mostly for $0.40, as investors look for the computer maker to rally. HPQ fell 0.29 percent to $16.96.

Time Warner (TWX): Some 10,000 April 55 calls were bought, mostly for $1.04 and $1.05, as investors look for the media stock to keep climbing. TWX rose 1.29 percent to $53.53.

Bank of America (BAC): About 24,000 March 12 calls were bought, mostly for $0.46 to $0.53, but volume was well below open interest. BAC rose 0.16 percent to $12.19.

iShares iBoxx High-Yield Corporate Bond Fund (HYG): A block of 17,000 March 93 puts were bought for $0.85 and an equal number of March 90 puts were sold for $0.20. Known as a put spread, the position will profit from the fund pushing lower during the next month. HYG rose 0.03 percent to $93.48.

Cisco Systems (CSCO): Some 33,000 March 20 puts were bought for $0.19 to $0.21 as investors hedge against further downside in the tech giant. CSCO fell 1.56 percent to $20.21.

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